CIBC Asset Management Inc Buys Shares of 7,019 ABM Industries, Inc. (ABM)

CIBC Asset Management Inc bought a new stake in shares of ABM Industries, Inc. (NYSE:ABM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,019 shares of the business services provider’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Boston Partners increased its holdings in ABM Industries by 6.5% in the 4th quarter. Boston Partners now owns 698,594 shares of the business services provider’s stock worth $26,351,000 after acquiring an additional 42,631 shares during the last quarter. Baker Ellis Asset Management LLC increased its holdings in ABM Industries by 13.6% in the 4th quarter. Baker Ellis Asset Management LLC now owns 16,875 shares of the business services provider’s stock worth $637,000 after acquiring an additional 2,025 shares during the last quarter. Reilly Financial Advisors LLC increased its holdings in ABM Industries by 9.1% in the 4th quarter. Reilly Financial Advisors LLC now owns 35,135 shares of the business services provider’s stock worth $1,325,000 after acquiring an additional 2,945 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in ABM Industries by 17.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,448,550 shares of the business services provider’s stock worth $54,639,000 after acquiring an additional 212,775 shares during the last quarter. Finally, Legato Capital Management LLC increased its holdings in ABM Industries by 59.6% in the 4th quarter. Legato Capital Management LLC now owns 12,222 shares of the business services provider’s stock worth $461,000 after acquiring an additional 4,563 shares during the last quarter. 95.02% of the stock is owned by institutional investors.

In other ABM Industries news, Director Linda Chavez sold 2,103 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $38.89, for a total value of $81,785.67. Following the completion of the transaction, the director now owns 16,557 shares in the company, valued at approximately $643,901.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Shares of ABM Industries, Inc. (NYSE ABM) opened at $36.32 on Thursday. ABM Industries, Inc. has a twelve month low of $33.70 and a twelve month high of $45.12. The firm has a market capitalization of $2,313.63, a PE ratio of 518.93 and a beta of 0.73. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.12). ABM Industries had a return on equity of 9.74% and a net margin of 0.07%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the business posted $0.51 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. analysts forecast that ABM Industries, Inc. will post 2.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Thursday, January 4th were paid a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, January 3rd. This represents a $0.70 annualized dividend and a yield of 1.93%. This is an increase from ABM Industries’s previous quarterly dividend of $0.17. ABM Industries’s dividend payout ratio (DPR) is currently 1,000.14%.

Several equities research analysts recently weighed in on the company. TheStreet lowered ABM Industries from a “b” rating to a “c+” rating in a report on Friday, December 29th. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $47.50.

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ABM Industries Company Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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